To mitigate SMEs＇ financial distress, related innovation is encouraged. In recent years an institutional innovation called Guarantee Alliance （GA） appears in Southwestern Sichuan Province of China which comes to ch...To mitigate SMEs＇ financial distress, related innovation is encouraged. In recent years an institutional innovation called Guarantee Alliance （GA） appears in Southwestern Sichuan Province of China which comes to change the original guaranty market structure and benefit SMEs＇ getting bank loan. Utilizing a case study approach and taking GA as a case, this paper aims to contribute to entrepreneurial finance literature by describing the GA and examining the process of innovation of GA. Through a detailed examination of the process, we identify a number of factors which contribute to its success.展开更多
文摘To mitigate SMEs＇ financial distress, related innovation is encouraged. In recent years an institutional innovation called Guarantee Alliance （GA） appears in Southwestern Sichuan Province of China which comes to change the original guaranty market structure and benefit SMEs＇ getting bank loan. Utilizing a case study approach and taking GA as a case, this paper aims to contribute to entrepreneurial finance literature by describing the GA and examining the process of innovation of GA. Through a detailed examination of the process, we identify a number of factors which contribute to its success.
